Inventories January 1 December 31 Materials $433,530 $546,250 Work in process 780,350 742,900 Finished goods 750,010 759,290 Advertising expense $370,900 Depreciation expense-office equipment 52,440 Depreciation expense-factory equipment 70,470 Direct labor 841,230 Heat, light, and power-factory 27,860 Indirect labor 98,330 Materials purchased 824,840 Office salaries expense 287,870 Property taxes-factory 22,940 Property taxes-headquarters building 47,520 Rent expense-factory 38,780 Sales 3,861,990 Sales salaries expense 474,150 Supplies-factory 19,120 Miscellaneous costs-factory 12,020 Required: Question Content Area 1. Prepare the statement of cost of goods manufactured. Shanika Company Statement of Cost of Goods Manufactured For the Year Ended December 31, 20Y6 $- Select - Direct materials: $- Select - - Select - $- Select - - Select - $- Select - - Select - Factory overhead: $- Select - - Select - - Select - - Select - - Select - - Select - - Select - Total factory overhead fill in the blank b05b1dfd7003028_29 Total manufacturing costs incurred fill in the blank b05b1dfd7003028_30 Total manufacturing costs $fill in the blank b05b1dfd7003028_31 - Select - Cost of goods manufactured $fill in the blank b05b1dfd7003028_34
Inventories January 1 December 31 Materials $433,530 $546,250 Work in process 780,350 742,900 Finished goods 750,010 759,290 Advertising expense $370,900 Depreciation expense-office equipment 52,440 Depreciation expense-factory equipment 70,470 Direct labor 841,230 Heat, light, and power-factory 27,860 Indirect labor 98,330 Materials purchased 824,840 Office salaries expense 287,870 Property taxes-factory 22,940 Property taxes-headquarters building 47,520 Rent expense-factory 38,780 Sales 3,861,990 Sales salaries expense 474,150 Supplies-factory 19,120 Miscellaneous costs-factory 12,020 Required: Question Content Area 1. Prepare the statement of cost of goods manufactured. Shanika Company Statement of Cost of Goods Manufactured For the Year Ended December 31, 20Y6 $- Select - Direct materials: $- Select - - Select - $- Select - - Select - $- Select - - Select - Factory overhead: $- Select - - Select - - Select - - Select - - Select - - Select - - Select - Total factory overhead fill in the blank b05b1dfd7003028_29 Total manufacturing costs incurred fill in the blank b05b1dfd7003028_30 Total manufacturing costs $fill in the blank b05b1dfd7003028_31 - Select - Cost of goods manufactured $fill in the blank b05b1dfd7003028_34
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Inventories January 1 December 31
Materials $433,530 $546,250
Work in process 780,350 742,900
Finished goods 750,010 759,290
Advertising expense $370,900
Depreciation expense-office equipment 52,440
Depreciation expense-factory equipment 70,470
Direct labor 841,230
Heat, light, and power-factory 27,860
Indirect labor 98,330
Materials purchased 824,840
Office salaries expense 287,870
Property taxes-factory 22,940
Property taxes-headquarters building 47,520
Rent expense-factory 38,780
Sales 3,861,990
Sales salaries expense 474,150
Supplies-factory 19,120
Miscellaneous costs-factory 12,020
Required:
Question Content Area
1. Prepare the statement of cost of goods manufactured.
Shanika Company
Statement of Cost of Goods Manufactured
For the Year Ended December 31, 20Y6
$- Select -
Direct materials:
$- Select -
- Select -
$- Select -
- Select -
$- Select -
- Select -
Factory overhead:
$- Select -
- Select -
- Select -
- Select -
- Select -
- Select -
- Select -
Total factory overhead fill in the blank b05b1dfd7003028_29
Total manufacturing costs incurred fill in the blank b05b1dfd7003028_30
Total manufacturing costs $fill in the blank b05b1dfd7003028_31
- Select -
Cost of goods manufactured $fill in the blank b05b1dfd7003028_34
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